|- THE OUTLAWS now the all-time #1 film in VOD sales in Korea, breaking the historic record five times faster than Disney's FROZEN |
- Novus Mediacorp, the co-presenter of THE OUTLAWS, owns the distribution rights of the film for the ancillary market in Korea
SINGAPORE, Feb 2, 2018 - (Media OutReach) - Spackman Entertainment Group Limited ("Spackman Entertainment Group" or the "Company" and together with its subsidiaries, the "Group"), one of Korea's leading entertainment production groups founded by Mr. Charles Spackman, wishes to announce that THE OUTLAWS, co-presented by the Company's 51%-owned subsidiary Novus Mediacorp Co., Ltd. ("Novus Mediacorp"), broke the VOD sales records in Korea. Novus Mediacorp owns the distribution rights of the film for the ancillary market in Korea.
THE OUTLAWS exceeded KRW11 billion in VOD sales, breaking the record previously held by Disney's FROZEN. Moreover, THE OUTLAWS achieved this historic milestone within the first 2 months of its launch as compared to FROZEN which took 10 months. According to the Korean Film Council, as of 21 January 2018, THE OUTLAWS recorded a total of 1,443,340 subscriptions compared to INSIDE MEN (999,915 subscriptions), LUCK KEY (1,028,837 subscriptions) and THE WAILING (992,720 subscriptions).
Mr. Richard Lee, Interim Chief Executive Officer & Executive Director of Spackman Entertainment Group, said, "The unprecedented and unexpected performance of THE OUTLAWS will contribute positively to the Group's performance for the financial year ending 31 December 2018, and we look forward to seeing the film add to its record VOD sales during its historical run."
THE OUTLAWS was one of the top 5 movies of 2017 in Korea, achieving a total of 6,880,506 admissions and gross proceeds of US$52.6 million at the Korean box office. Released on 3 October 2017, THE OUTLAWS ranked #2 during the weekend Korean box office of 6 October 2017 to 8 October 2017. The crime action film is directed by Kang Yoon-sung and stars Ma Dong-seok of TRAIN TO BUSAN (2016) and Yoon Kye-sang of BACCHUS LADY (2016). Based on the 2004 Chinese Korean gangster mop-up operation in Seoul's Garibong neighbourhood, Ma plays a detective hunting down a Korean-Chinese gang headed by Yoon Kye-sang.
About Spackman Entertainment Group Limited
Spackman Entertainment Group Limited ("SEGL" or the "Company"), and together with its subsidiaries, (the "Group"), a leading entertainment production group founded by Mr. Charles Spackman, is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. In addition to our film business, we also make investments into entertainment companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.
SEGL's Zip Cinema Co., Ltd. ("Zip Cinema") is one of the most recognised film production labels in Korea and has originated and produced some of Korea's most commercially successful theatrical films, consecutively producing 8 profitable movies since 2009 representing an industry leading track record. Recent theatrical releases of Zip Cinema's motion pictures include some of Korea's highest grossing and award-winning films such as MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For more information on Zip Cinema, do visit http://zipcine.com
SEGL also owns Novus Mediacorp Co., Ltd. ("Novus Mediacorp"), an investor, presenter, and/or ancillary distributor for a total of 75 films (52 Korean and 23 foreign) including SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS fame, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the ancillary distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. For more information on Novus Mediacorp, do visit http://novusmediacorp.com
Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.
We also operate a cafe-lounge called Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd..
The Company holds an effective shareholding interest of 33.76% in Spackman Media Group Limited ("SMGL"). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively the largest entertainment talent agency in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MS Team Entertainment Co., Ltd., UAA & Co Inc., Fiftyone K Inc., SBD Entertainment Inc., and Kook Entertainment Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows, and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company.
On 31 March 2017, the Group completed the acquisition of 100% equity interest in Frame Pictures Co., Ltd. ("Frame Pictures"). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top directors and provided the camera and lighting equipment for some of Korea's most notable drama and movie projects including THE LEGEND OF THE BLUE SEA (2016) featuring Jeon Ji-hyeon and Lee Min-ho, as well as VETERAN (2015), the number one movie at the Korean box office in 2015 starring Yoo Ah-in.
On 27 October 2017, the Group completed the acquisition of 100% equity interest in Take Pictures Pte. Ltd. ("Take Pictures") which owns a strong lineup of 10 film projects including the co-production with the Zip Cinema of THE PRIESTS 2.
On 26 January 2018, the Company completed the acquisition of 100% equity interest in Constellation Agency Pte. Ltd. ("Constellation Agency"). Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements, and branded entertainment.
For more details, do visit http://www.spackmanentertainmentgroup.com/
This press release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this press release.
This press release has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this press release including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms. Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: [email protected]).
Investor & Media Contact
Spackman Entertainment Group Limited
Ms Jasmine Leong
Tel: +65 6694 4175
Email: [email protected]
 Korean Film Council, Daily Box Office Statistics, http://bit.ly/2iOxcvQ
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.